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Loan
officers as we all know are the people from the world of
loans and mortgage. They help people for getting a new
home loan, in refinance for lowering their interest
rates, in getting second mortgages, equity loans and
many other financial matters related to loans and
mortgage. |
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Lending
Officers Education
While the nation's large financial institutions heavily train
their lenders, you would be shocked at the lack of formalized
Lending Officers Education among many smaller financial institutions.
Even those lenders who have had training often haven't had anything
fresh in three to five years. In discussing this in the field,
I have found that loan officers-whatever their reasons-can typically
find some way to avoid a legitimate one-to-two-week lending
program designed to increase their expertise. In essence, most
of the professional bank loan officers in the community banks
operate on the job, day to day, without increasing their skills
through Lending Officers Education. Moreover, these lenders
often don't even read what the new requirements are for their
lending specialization! Too many of these officers simply lend
and hope-hope that the computerized loan documentation systems
their banks bought catch their slip-ups.
It is an obligation of the community bank or thrift board to
remedy such situations. Directors should make sure their banks'
loan officers are highly and consistently trained through Lending
Officers Education. If a bank does not have an organized Lending
Officers Education within the institution itself, then management
must schedule its loan officers for national and/or regional
loan schools. If they go to a state or local convention workshop
or seminar, that's better than nothing, but your bank really
needs to get them to a three-to-five day program, rather than
a semi-social gathering.
If your bank has several loan officers whose lending records
are abysmal, then either train them through Lending Officers
Education or eliminate them. And, if after training they still
don't cut it, they must be eliminated. But remember, good loan
officers are hard to find, so if you can repair a damaged loan
officer through attendance at Lending Officers Education, computerized
training, or mentoring, it is well worth the effort. And, for
banks in remote locations, if you can fix the devil you know,
it's better than trying to hire the devil you don't. Lending
officers should be compared with each other; a little competition
doesn't hurt. |
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